CFSA issued a news release today on a new economic impact study:

In a first-of-its-kind survey sponsored by the Community Financial Services Association of America (CFSA), financial analysis firm Global Insight examined the economic impact on the American economy of the payday advance industry’s 23,000 store fronts.

The report reveals that, in addition to the 77,000 Americans directly employed in payday advance stores, the industry has acted as an economic agent, broadly contributing to the economies of the states in which it operates.

The Global Insight report–which includes state-by-state breakdowns–reveals that:

• The industry supports over 155,000 jobs nationally and contributed over $10 billion to the national GDP in 2007.